Mobile Home - Foundation Problem? Financing?

[Account Closed]

Hey guys,

I normally don't consider MFH but I could not resist not investigating this one. Please note that I know next to nothing about MFH. It has two problems.

1) The foundation: I peeked under the hood and it looks like it is sitting on "jacks" in the center and has 2X4 framing on the perimeter. The problem is the grading outside is leaning towards the foundation, not away, and the framed supports are definitely getting wet. Looks like all the MFH in the park are the same. Do they just live in them till wood rot and/or termites bring it down?

2) The financing: It is listed at $84k, includes land, bank owned, HOA is $10/month, and taxes are $1,200 a year. It will rent easily $1.1k a month. My problem (besides #1) is being able to get a conventional loan.

I am getting a bid to do the foundation right and plan to bring the bank an offer with respect to this bid. Love to hear some PB wisdom out there!